Hanoi (VNA) – The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has launched a 50 trillion VND (1.9 billion USD) credit package to provide preferential financing to businesses, particularly small and medium-sized enterprises (SMEs), priority sectors and new growth drivers of the economy.
The move follows directions from the Government and the State Bank of Vietnam (SBV) to expand credit support for growth-driving sectors and SMEs.
The programme is available across Vietcombank’s network from August 7, 2026 through December 31, 2028, or until further notice. Eligible borrowers include businesses and individuals engaged in production and business activities in priority sectors and growth-driving areas, including agriculture and rural development, supporting industries, high-tech enterprises, exports, the digital economy, artificial intelligence (AI), semiconductor manufacturing, processing and manufacturing, and projects covered by Vietnam’s green taxonomy. SMEs are also eligible.
A key feature is lending rates at least 1 percentage point per year lower than Vietcombank’s average rates for loans of the same maturity, whether short-, medium- or long-term.
The bank will also consider waiving or reducing service fees in line with applicable regulations and conditions, helping businesses reduce financing costs and expand production and business activities.
Vietcombank said the programme aims to broaden access to affordable capital, support production and business activities, promote innovation and sustainable development, and mobilise resources for economic growth.
The launch follows similar moves by other commercial banks after the SBV called on credit institutions to balance resources and cut costs to support businesses and people.
The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has introduced a preferential credit programme worth up to 50 trillion VND. Running from August 2026 through December 2028, or until funds are fully disbursed, the programme offers eligible SMEs and businesses in priority sectors and growth-driving areas loans at rates at least 1 percentage point lower per year than BIDV’s average rates for loans of the same maturity.
The Vietnam Bank for Agriculture and Rural Development (Agribank) has rolled out a 70 trillion VND preferential credit programme, also running through 2028. Interest rates will be 1-2 percentage points lower per year than its average rates for loans of the same maturity, targeting SMEs as well as businesses and individuals in priority sectors and growth-driving areas.
Meanwhile, the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has earmarked 50 trillion VND for a programme running through the end of 2028, with preferential rates at least 1 percentage point lower per year than regular rates for loans of the same maturity.
The National Citizen Bank (NCB) has also cut lending rates by 0.5 percentage point per year for individual and corporate customers since August 11, with SMEs receiving the reduction across all loan maturities. The bank is prioritising financing for green projects, the digital economy and businesses involved in major national infrastructure projects.
The successive launch of large-scale credit programmes reflects a stronger shift in bank lending towards production and business activities and sectors capable of generating high added value and broad economic spillovers.
Under SBV requirements, commercial banks are to provide Vietnamese-dong loans to SMEs and growth-driving sectors at rates at least 1 percentage point per year lower than their average rates for loans of the same maturity. They are also required to consider waiving or reducing service fees for eligible customers in line with regulations and their financial capacity./.
VNA
